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Builders Risk Policy Risk
Do not use builder risk policies for flips. Use a vacant house policy. If you have a claim under a builders risk policy the first thing the insurer will do will be to pull the permits and request a copy of the expenses incurred on the home. On a builders risk policy, the repairs must be 50% of the value of the property or more. If you can't prove the 50%, you will be denied coverage. I know, I was denied. Check with your insurance agent for verification. I bought builders risk policies for 16 years before I had a claim. Don't learn the hard way. Randal Jenkins Coldwell Banker F I Grey and Son Res 727-409-4663 6330 US 19 New Port Richey Fl 34653 ... more
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